MKT291finalstudyguide

MKT291finalstudyguide - Chapter 3: Scanning the Marketing...

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Unformatted text preview: Chapter 3: Scanning the Marketing Environment Technology- inventions from applied science of engineering research o Marketspace- information- and communication-based electronic exchange environment occupied by digitized offerings o to government control where an industry attempts to police itself Chapter 4: Ethics and Social Responsibility Ethics- moral principles and values that govern the actions and decisions of an individual or a group Laws- societys standards and values that are enforceable in court Culture incorporates the set of values, ideas, and attitudes that are learned and shared among the member of a group Caveat Emptor let the buyer beware Consumer Bill of Rights- codified the ethics of exchange between buyers and sellers, including right to satisfy, to be informed, to choose, and to be heard Economic Espionage- clandestine collection of trade secrets or proprietary information about a companys competitors Code of Ethics- formal statement of ethical principles and rules of conduct Whistle Blowers- employees who report unethical or illegal actions of their employers Moral Idealism- moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome Utilitarianism- moral philosophy that focuses on the greatest for the greatest number Social Responsibility- idea that organizations are part of a larger society and are accountable to that society for their actions o Profit responsibility- holds that companies have a simple duty: to maximize profits for their owners or stockholders o Stakeholder responsibility- focuses on the obligations an organization has to those who can affect achievement of its objectives o Societal responsibility- refers to obligations that organizations have to the preservation of the ecological environment and to the general public Green Marketing- marketing efforts to produce, promote, and reclaim environmentally sensitive products Cause Marketing- tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products (ex. P&G donates to charity when their product is bought) Social Audit- systematic assessment of a firms objectives, strategies, and performance in the domain of social responsibility Chapter 11: Managing Products, Services, and Brands Branding- organizations use of a name, phrase, design, symbol, or combination of these to identify and distinguish its products Brand Name- any word, device (design, shape, sound, or color), or combination of these used to distinguish a sellers...
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MKT291finalstudyguide - Chapter 3: Scanning the Marketing...

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